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Policies to Grow the Economy

The aging of the population will make achieving past levels of economic growth much more difficult in the years ahead. The Congressional Budget Office (CBO) projects that real GDP growth will average 1.9 percent annually over the next 30 years, far below the 3.2 percent it has averaged since the end of World War II. However, structural reforms to the nation’s tax, spending, and regulatory policies can have a meaningful impact in accelerating the pace of economic activity.